Abbott Laboratories (ABT) Holdings Boosted by Lakeview Capital Partners LLC
Lakeview Capital Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,691 shares of the healthcare product maker’s stock after buying an additional 33 shares during the period. Lakeview Capital Partners LLC’s holdings in Abbott Laboratories were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Winfield Associates Inc. raised its position in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock worth $116,000 after purchasing an additional 89 shares during the period. V Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $127,000. JFS Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 2,094 shares during the period. Atwood & Palmer Inc. raised its position in shares of Abbott Laboratories by 157.5% during the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after purchasing an additional 2,000 shares during the period. Finally, Lee Financial Co raised its position in shares of Abbott Laboratories by 1.7% during the second quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock worth $165,000 after purchasing an additional 57 shares during the period. 71.45% of the stock is currently owned by institutional investors.
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A number of equities research analysts have recently commented on ABT shares. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. BidaskClub lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Guggenheim started coverage on Abbott Laboratories in a research report on Thursday, June 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (ABT) opened at 56.00 on Friday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.60. The firm has a market cap of $97.30 billion, a price-to-earnings ratio of 78.43 and a beta of 1.06. The company has a 50-day moving average price of $53.11 and a 200-day moving average price of $48.43.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The company’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Analysts forecast that Abbott Laboratories will post $2.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.89%. Abbott Laboratories’s payout ratio is currently 83.47%.
In other news, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the sale, the insider now directly owns 143,154 shares of the company’s stock, valued at $7,157,700. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the sale, the insider now directly owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,310 shares of company stock worth $16,857,255. Corporate insiders own 0.76% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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